This lecture was delivered at Boston College in 1983 to a small group for a series entitled "Philosophic Perspectives". It was intended to explore great philosophic works with a view to how they should be taught to undergraduates. The theme of the seminar was conceived in light of the decline & fall of liberal education in the University. In this lecture Bloom discusses Nietzsche's rejection of liberal democracy, contemporary nihilism, the Last Man, and the Will to Power. Bloom lays special emphasis on the obstacles modern students have in accepting or appreciating Nietzsche's attack on liberal nihilism. He also addresses the Left's misappropriation of Nietzsche's thought. In order to follow this lecture carefully it is particularly useful to have Zarathustra's speech on the Last Man on hand, as Bloom interprets its meaning here.
See also Bloom's important "4 Lectures on Socrates." Note that this lecture is divided into 2 Parts, both of which can be downloaded below.